chapter 6 review

how many days does a producer have to remit the collected premiums to the insurer

5 business days

US vs South eastern underwriters was decided in 1944. to what extent does the supremem courts decision still apply to insureance today

stands in full insurance is considered to be interstate commerce and is therefore subject to regulation by federal government

a producer's license was revoked as a result of the insurance code violation. which of the following is true

the producer will have to wait 5 years before applying for license reinstatement

a contract between a producer and an insurance company

must be in writing and signed by both parties

during a sales presentation a producer intentionaly makes a statement which may mislead the insurance applicsnt. this describes

misrepresentation

which of the following would be required to be licensed as an insurance producer

a salaried employee who advertises and solicits insurance

what type of license represents the insruance company

agent

if a violation of the new jersey insurance code were to occur, a cease and desist order and/or penalty may be issued. who may issue a cease and desist order

commissioner

which of the following authorities is in charge of investigating claims held against licensees

commissioner

which of the following was created to protect policyowners, insureds, and beneficiaries under insurance contracts when insurers fail to perform contractual obligations due to financial impairment

nj life and health guaranty association

all of the following professional designations are recognized by the department as acceptable substitutions for education and examination requirements except

professional insurance agent

all of the following are true regarding rebates except

rebates are allowed if its in the best interest of the client

what is a foreign insurer

an insurer with a home office in another state

in accordance with the administrative procedure act, what entity has the authority to make and enforce rules and regulations to implement and carry out the purposes of the insurance laws and new jersey

commissoner

when a producer was reviewing a potential customers coverage written by another company, the producer made several remarks that were maliciously critical of that other insurer. the producer could be found guilty of

defamation